Philip Burlamachi[1] (1575 – 1644)[2] was a major financial intermediary of King Charles I of England, and is remembered as the inventor of the concept of a central bank.
"Whereas you have undertaken the collecting of such moneys as were thought reasonable and meet for the merchants strangers residing within the City of London and the outports, to contribute towards the expedition against pirates.
"[7] He was entrusted the sum of £30,000 on behalf of the Privy Council with bills of exchange for the service of an army for the States of the United Provinces or 'direct the employment them as he shall think'.
[6] One thing that is certain and clear is the importance of Philip Burlamachi in regards to money and finance and his idea (the first of its kind) although he himself did concede "the proposal has been formerly made.
[11] During the Anglo-French War (1627-1629), Burlamachi loaned Charles I the sum of £70,000, though the king's inability to repay him caused him to go bankrupt in 1633.